America’s wealthiest billionaires got $698 billion richer this year, while the average home earned $83,000—and the gap’s set to get wider under Trump

Main Idea: Oxfam says Elon Musk and other top U.S. billionaires added hundreds of billions in wealth this year, while the gap with average households is expected to grow under President Donald Trump.

Key Points:

• The 10 richest U.S. billionaires gained $698 billion in the past year, with most of the gains coming from tech and AI-linked fortunes.
• Oxfam says the average U.S. household earned about $83,730 last year, far below the wealth added by the richest Americans.
• The report says inequality has deepened over decades, with the top 0.1% owning a large share of assets and the bottom half owning very little.
• Oxfam warns Trump’s tax and spending policies could make the wealth gap wider, while lower-income households face layoffs, high costs, and recession risks.